Common use of Joint Operating Committee Clause in Contracts

Joint Operating Committee. 8.1 Upon the Effective Date, ThermoGenesis and Distributor shall establish a joint operating committee (“JOC”). The JOC shall be comprised of two (2) members appointed by ThermoGenesis and two (2) members appointed by Distributor. The JOC shall have the duties and responsibilities set forth in this Section. 8.2 The JOC shall discuss and work to reach consensus on the management and administration of the responsibilities and obligations of the Parties under the Agreement. If the JOC is unable to reach consensus on a matter, the issue shall be resolved by the senior most executives of the Parties responsible for the division administering the Agreement. If such senior executives cannot reach consensus and resolution, the Parties shall continue to comply with the express terms of the Agreement, and each Party shall have the right to decide how to proceed within each Party’s respective area of responsibility. 8.3 The JOC will meet no less than four (4) times a year, either in person or via video conferencing to review, among other things, sales performance, progress on sales metrics, the operating plan and budget, on hand inventory levels, customer usage information, and make such adjustments and changes as are agreed to by the Parties.

Joint Operating Committee. 8.1 Upon the Effective Date, ThermoGenesis and Distributor ImmuneCyte shall establish a joint operating committee (“JOC”). The JOC shall be comprised of two (2) members appointed by ThermoGenesis and two (2) members appointed by DistributorImmuneCyte. The JOC shall have the duties and responsibilities set forth in this Section. 8.2 The JOC shall discuss and work to reach consensus on the management and administration of the responsibilities and obligations of the Parties under the Agreement. If the JOC is unable to reach consensus on a matter, the issue shall be resolved by the senior most executives of the Parties responsible for the division administering the Agreement. If such senior executives cannot reach consensus and resolution, the Parties shall continue to comply with the express terms of the Agreement, and each Party shall have the right to decide how to proceed within each Party’s respective area of responsibility. 8.3 The JOC will meet no less than four (4) times a year, either in person or via video conferencing to review, among other things, sales performance, progress on sales metrics, the operating plan and budget, on hand inventory levels, customer user usage information, and make such adjustments and changes as are agreed to by the Parties.